On March 24th, according to Velo Protocol analysis, the RWA sector performed strongly in 2025, with a 237% growth within the year, doubling its total market value to $19 billion. This growth is mainly driven by private credit, with both the number of holders and activity reaching historic highs. At the same time, the total value of stablecoins reached $225 billion. As of March 24th, 2025, the top five RWAs by market value include: BlackRock's $BUIDL, approximately $1.5 billion (largest RWA) Hashnote's $USYC (acquired by Circle in 2025), approximately $800 million Tether Gold's $XAUT, approximately $750 million Franklin OnChain's $BENJI, approximately $700 million Paxos Gold's $PAXG, approximately $650 million.